Group 1 - The core point of the article is that Yangguang Nuohuo (688621) plans to acquire 100% equity of Jiangsu Langyan Life Science Technology Co., Ltd. for a transaction price of 1.2 billion yuan through the issuance of shares and convertible bonds [1] - The acquisition will enhance the company's pharmaceutical industrial segment, achieving a "CRO + pharmaceutical industry" layout [1] - The company intends to raise supporting funds by issuing shares to no more than 35 specific investors [1]

Core Viewpoint - Yangguang Nuohuo (688621.SH) is planning to acquire 100% equity of Jiangsu Langyan Life Science Technology Co., Ltd. through issuing shares and convertible bonds, marking the second attempt to acquire the same asset in over two years [1][3]. Group 1: Acquisition Details - The acquisition price for the previous attempt in October 2022 was set at 1.611 billion yuan, with a fundraising plan of 1.007 billion yuan for cash consideration and project expansions [3]. - The current acquisition aims to enhance Yangguang Nuohuo's pharmaceutical industrial segment and leverage synergies between CRO and pharmaceutical manufacturing [3]. Group 2: Company Profiles - Jiangsu Langyan Life is a drug research and production company established in July 2010, focusing on high-difficulty generic drugs and innovative drug development across various therapeutic areas [3]. - Yangguang Nuohuo operates as a comprehensive CRO specializing in preclinical and clinical drug development services, with a strong need for self-developed products [3]. Group 3: Financial Performance - Yangguang Nuohuo reported a revenue of 1.078 billion yuan in 2024, a year-on-year increase of 15.7%, but its net profit attributable to shareholders decreased by 3.98% [5]. - In Q1 2024, Yangguang Nuohuo's revenue and net profit showed declines of 8.49% and 59.34%, respectively [5]. - Jiangsu Langyan Life's revenues for 2023 and 2024 were 465 million yuan and 432 million yuan, with net profits of 36.71 million yuan and 53.88 million yuan [5].